Reserve Bank of India Governor Shaktikanta Das (RBI Governor Shaktikanta Das) has expressed the hope that the process of privatization of public sector banks (PSBs) will begin soon. Shaktikanta Das said that we are discussing with the government about the privatization of public sector banks and the process will be taken forward soon in this context.
“The privatization of public sector banks will be done under any circumstances,” Shaktikanta Das said in a program at the Times Network India Economic Conclave. Let us tell you that Finance Minister Nirmala Sitharaman, while presenting the budget for the financial year 2021-22, announced the privatization of 2 public sector banks and one insurance company this year.
On Tuesday, Finance Minister Nirmala Sitharaman had said that in the privatization of banks, the interests of the employees working in these institutions will be taken care of. Sitharaman said that it is not right to assume that every bank is selling and will become private. For years, the interests of the employees working in these banks will be taken care of.
The Finance Minister said that everything, salary, scale, pension of employees will be taken care of. Regardless of the sector, care is being taken with every unit of disinvestment to cooperate in the economy. So that the units in distress can become strong and continue to work, they can get money. Private sector investment is being opened in them so that they can become stronger.
These banks will not be private
On the other hand, Niti Aayog has excluded 6 state-owned banks from the privatisation plan. These include Punjab National Bank (PNB), Union Bank, Canara Bank, Indian Bank, Bank of Baroda and SBI. These were part of previous rounds of bank consolidation. Let us tell you that the government merged 10 banks into 4 banks in August 2019. Due to this, the number of public sector banks in the country has come down from 27 to 12.
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